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Corporate Governance (CG) comprises the systems and procedures by which enterprises are directed and controlled. Sound corporate governance is essential for improving the operational performance, enhancing shareholder value, strengthening transparency and accountability for the commercial entities.
DHI CG Initiatives
As mandated, DHI has made concerted effort in improving corporate governance in its portfolio companies since its establishment in 2007. To this effect, DHI has introduced and implemented a series of corporate governance policies and standards in DHI companies. DHI introduced Ownership Policy in 2010 as a framework for the governance and administration of its portfolio companies.
DHI is continually working towards promoting excellence in corporate governance practices in its portfolio companies by adopting internationally accepted standards and practices of good corporate governance. DHI has developed Corporate Governance Code based on OECD Corporate Governance principles in 2013. The Code covers corporate governance framework and associated model terms of reference and model charters viz., Board Charter, Board Audit Committee Charter and Code of Conduct.
Considering that effective Boards are critical for providing leadership and strategic guidance to the management, DHI instituted a system to ensure effective Boards are appointed and give necessary direction and control to DHI portfolio companies. This is achieved through three main components:
1. Selecting and appointing professionally qualified, well experienced, highly motivated and of high integrity Board Directors.
2. Enhancing the professionalism and skills of board directors through conducting professional development and on-boarding programs.
3. Improving performance through instituting board evaluation and feedback system.
DHI has reaped the benefits of introducing these good board practices in DHI companies. In the last few years, it has to a great extent managed to successfully change the culture and mind-set of boards towards more active and business-focused governance roles in the companies.